Welcome to Ungaro & Co
Version 2.0 Effective from 01/09/2023
Important information that you might like to know about us before we being our journey together.
License status and conditions
Ungaro and Co Limited (FSP752711), trading as Ungaro & Co Financial Services, holds a licence issued by the Financial Markets Authority to provide financial advice.
Nature and scope of the financial advice given
Ungaro & Co provides advice to our clients about their investments, home loan, life insurance, health insurance, KiwiSaver and related insurances.
We are able to provide financial advice from the following product providers:
|Life and disability insurances||AIA, Asteron, Fidelity, Chubb Life, Partners Life.|
|Health Insurances||AIA, nib, Partners Life.|
|KiwiSaver||Generate, kōura KiwiSaver.|
|Investment||Fee-based advice and guidance to self-directed DIY-investors who use a wide range of NZ based managed investment products, Bitcoin and precious metals.|
|Fire and General Insurance||We may refer you to other providers.|
|Home Loan Lenders||ASB, ANZ, BNZ, Westpac, Go Home Loans.|
Any financial advice we provide will only take into account the information you have given us about your particular needs, financial situation or goals.
Ungaro & Co and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:
- give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests
- exercise care, diligence, and skill in providing you with advice
- meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)
- meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should and give you suitable advice).
This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of- professional-conduct-for-financial-advice-services.pdf.
Fees, expenses or other amounts payable for our financial advice
In order to strike a balance between ‘independence’ and ‘accessibility’, we have a unique hybrid remuneration model.
1 – Fees apply when we provide financial advice independent of implementing a financial product.
2 – Commissions apply only when we provide financial advice in the course implementing a financial product.
3 – No fees apply to review a mortgage, insurance plan, or KiwiSaver, implemented by us.
4 – All clients have the choice to use us for advice only, advice and implementation, or implementation only.
For all financial strategy and fee-based sessions, fees are calculated based on how much time it takes to provide and document the advice provided to you.
Important: When you ‘purchase’ advice from us you are buying our time. The advantage of this approach is that there are no incentives or requirements to ‘sell’ to you. The disadvantage of this approach is that we cannot guarantee you will receive comprehensive advice when our time is constrained.
Financial Strategy Sessions are charged at $380/hr +gst for 4 hours of work, which includes a 2 hour meeting. This will be appropriate for most of our clients, but in some situations, more time will be recommended ahead of our meeting.
Extra time will incur our hourly rate.
In cases where advice has been provided where commission is the preferred remuneration model, read this: If mortgages or insurance policies are cancelled within 2 years we will charge a fee. The fee will be up to $2,000.00 including gst (if applicable) but may be waived in cases where we’ve been involved prior to the event.
All fees are payable upfront.
How we manage any conflicts of interest or other incentives
To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances.
All our financial advisers undergo annual training about how to manage conflicts of interest.
We also undertake a compliance audit, and a review of our compliance program annually by a reputable compliance consultancy firm.
Internal complaints process
If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means: in writing, by telephone or by email. Here are our contact details.
|Company Name||Ungaro & Co Limited|
|Attention||The Complaints Officer|
|Address||201/28 College Hill, Freemans Bay, Auckland.|
|Telephone||09 360 2179 / 021 800 107|
Our Complaint Handling Process
When we receive a complaint, we will consider it following our internal complaints process:
- We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
- We aim to resolve complaints within 15 working days of receiving If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.
- We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do it. In situations where the advice provided is not the advice you specifically requested, we reserve the right to provide another advice session to get it right.
- If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Insurance & Financial Services Ombudsman Scheme Inc.
Insurance & Financial Services Ombudsman Scheme Inc. provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we haven’t been able to resolve you complaint to your satisfaction.
Dispute resolution process
You can contact the Insurance & Financial Services Ombudsman Scheme at:
|Company Name||Insurance & Financial Services Ombudsman Scheme|
|Address||Level 8, 81 Molesworth Street, Wellington 6011|
|Postal Address||P O Box 10-845, Wellington 6143|
|Telephone||0800 888 202 (freephone if within New Zealand)|
Ungaro and Co Limited (FSP75271, trading as Ungaro & Co Financial Services) is the Licensed Financial Advice Provider.
You can contact us at:
|Telephone:||09 360 2179 / 021 800 107|
|Business Address:||201/28 College Hill, Freemans Bay, Auckland.|